Sales of pre-owned houses more than doubled

SALES of pre-owned homes more than doubled in Shanghai real estate market last month after the traditional low season ended.

Around 19,400 units of pre-owned homes changed hands in March across the city, up from 9,400 units sold a month earlier, according to data compiled by Shanghai Homelink Real
Estate Agency Co. But they plunged 61.8 percent year on year.

“The rebound was mainly caused by some seasonal factors but a major one should not be expected any time soon with tightening measures being enforced,” Homelink said in a
report.

Outlying Jinshan New City and Nanqiao New City were the only two areas that sold more than 200 units of pre-owned homes last month.

A separate report released yesterday by the Shanghai Existing House Index Office said the average price of pre-occupied homes rose in 92 of the 130 areas monitored by the office
in March, up from 13 areas in February, as sales rose notably. Prices fell in 17 areas and remained flat in the rest 21 areas.